Brief Exercise 4-1 Digger Inc. sells a high-speed retrieval system for mining information. It provides the following information for the year. Budgeted Actual Overhead cost Machine hours Direct labor hours 975,000 $950,000 45,000 92,000 50,000 100,000 Overhead is applied on the basis of direct labor hours Compute the predetermined overhead rate. (Round answer to 2 decimal places, e.g. 12.25.) Predetermined overhead ate per direct labor hour LINK TO TEX Determine the amount of overhead applied for the year Amount of averhead applied